Raw material at a special price for RINL-VSP: Steel Minister Dharmendra Pradhan
By Newsmeter Network Published on 9 Nov 2019 3:59 PM GMT
Highlights
- NMDC iron ore for proposed steel plant in Kadapa
- AP to get Rs2 lakh crore investments in petroleum sector
Visakhapatnam: Union Minister for Steel, Petroleum and Natural Gas Dharmendra Pradhan has said the Ministry was trying to supply raw material from OMDC at a special price to RINL and was therefore pursuing with the Odisha government on operationalisation of iron ore mines there.
On raw material security, Pradhan said that RINL is preferring captive iron ore mines in order to face the competition and also to reduce the cost of production.
He made these observations during a visit to Rashtriya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant (VSP).
“RINL boasts of high technical capability and the employees’ potential has already been recognized by the Ministry of Steel. We are trying to supply raw material to RINL at a special price by obtaining them from OMDC. There is no doubt that RINL stands to gain immensely from the arrangement,” the Minister said amid thunderous applause from the senior officers assembled on the occasion.
He advised RINL to explore joint venture options as a means to take on the competition, for creation of wealth and provide value for money.
He stated that Andhra Pradesh, Odisha, Jharkhand and Chhattisgarh were mineral-rich and have tremendous potential for development and also to bolster economy. He observed that a spin-off of increased economic activity would be opening up of employment opportunities and generation of additional revenue to the State and Union governments.
Earlier, Pradhan arrived to a warm welcome on his maiden visit to RINL-Visakhapatnam.
The Minister, accompanied by PK Rath, CMD, and Directors of RINL, visited the Model Room, Blast Furnace-3, Steel Melt Shop-2, Wire Rod Mill. He was briefed about the latest technology incorporated in the plant, expansion, and modernization of RINL.
It may be recalled that during a meeting with Chief Minister YS Jaganmohan Reddy on Friday, Mr Pradhan had responded positively to a request for supply of iron ore to the proposed steel plant in YSR Kadapa district from National Mineral Development Corporation (NMDC).
Dharmendra Pradhan also assured that AP will get Rs 2 lakh crore investments in the next five years in petroleum and steel sectors as global leaders in the petroleum sector were keen to invest in the State.
